Save
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Economic Systems 2

6th Grade Social Studies: Unit 6 - Types of Economic Systems

QuestionAnswer
In a traditional economic system, who decides what to produce? People follow customs and make what their ancestors made
In a traditional economic system, who decides how to produce goods and services? They grow and make things the same way their ancestors did
In a traditional economic system, who are the goods and services produced for? People in the village who need them
What countries have a traditional economic system? villages in Africa & South Asia, Inuit tribes in Canada
In a command economic system, who decides what to produce? the government
In a command economic system, who decides how to produce goods and services? the government
In a command economic system, who are the goods and services produced for? Whoever the government decides to give them to
What countries have a command economic system? North Korea, former Soviet Union, Cuba
In a market economic system, who decides what to produce? Businesses - based on supply, demand, and free enterprise (price)
In a market economic system, who decides how to produce goods and services? Businesses
In a market economic system, who are the goods and services produced for? Consumers
What countries have a market economic system? No pure market economies exist, but The United States is close
In a mixed economic system, who decides what to produce? Businesses
In a mixed economic system, who decides how to produce goods and services? Businesses – but the government regulates certain industries
In a mixed economic system, who are the goods and services produced for? consumers
What countries have a mixed economic system? USA, Brazil, Mexico, UK, Germany, Russia, Australia
What are the 3 basic kinds of economic systems? traditional command market
Which kind of economic system is best for raising a country’s standard of living? market economic system
Which economic system is characterized by the least change? traditional economic system
The former Soviet Union was an example of what kind of economic system? command economic system
Which economic system allows for most individual freedom? market economic system
In which economic system is the government most influential? command economic system
In the market system, what factor guides economic activity? consumer preferences and demand
In which economic system do individuals make decisions based on how things have always been done? traditional economic system
List five economic/social goals that countries use to guide individual and government decisions. economic growth, full employment, price stability, economic equity, and economic security
In a market economy, how is the distribution of goods and services determined? By purchasing power
How does a traditional economy typically produce goods? With simple, labor-intensive methods
What is the primary goal of production in a command economy? Meeting government-set targets
In a market economy, what influences the choice of production methods? Efficiency and cost-effectiveness
Explain why every country must have an economic system because it provides a structured method to manage the allocation of limited resources, answering fundamental questions like what goods to produce, how to produce them, and who gets them
Explain why every country must have an economic system because it provides a structured method to manage the allocation of limited resources, answering fundamental questions like what goods to produce, how to produce them, and who gets them
What are the 3 basic economic questions that every country must answer? 1. What to produce? 2. How to produce? 3. For whom to produce?
What are the 3 basic kinds of economic systems?
The former Soviet Union was an example of what kind of economic system? command economic system
Which kind of economic system is best for raising a country’s standard of living? market economic system
Which economic system is characterized by the least change? traditional economic system
Which economic system allows for most individual freedom? market economic system
In which economic system is the government most influential? command economic system
In the market system, what factor guides economic activity? consumer preferences and demand
In which economic system do individuals make decisions based on how things have always been done? traditional economic system
List five economic/social goals that countries use to guide individual and government decisions. economic growth, full employment, price stability, economic equity, and economic security
Created by: Engle Family
Popular Social Studies sets

 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards